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Misho ILIEV

Misho ILIEV
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  • Apple Is A Steal Even At $700 [View article]
    Good maths, dgulick!

    (It's another matter that I do not consider it possible to value AAPL and for that reason it's better to stay away.)
    Feb 5 03:22 PM | 1 Like Like |Link to Comment
  • Yes, Apple Still Is A 'No-Brainer' [View article]
    Yes, AAPL is a no brainer. But in the sense that it is clear one has to stay away, no matter how "cheap" the stock may look like.
    Jan 28 05:32 AM | 2 Likes Like |Link to Comment
  • Apple Will Beat Street Estimates, A Buy Is Justified [View article]
    But that's the thing, the market is forward looking.
    Jan 27 06:51 PM | Likes Like |Link to Comment
  • Apple Will Beat Street Estimates, A Buy Is Justified [View article]
    The guidance isn't great, plus the number of of phones sold is a miss.
    Apple shares - so much wishful thinking!
    For a company like Apple it is very hard to continue growing. It's too big. The market too competitive. I think I have written these words at least 30 times in the last year and a half...

    It's already down almost 7%. Tomorrow we might see Apple below $500 again.
    Jan 27 06:19 PM | Likes Like |Link to Comment
  • The Achilles' Heel Of Apple Is Its Recalcitrant High-Margin Policy [View article]
    I wouldn't even call buy backs - financial engineering. It's a very legitimate way of returning cash to shareholders, parting ways with some of them, thus leaving the rest with a bigger share of the (future) pie.

    On the other hand, given that finance is about allocation of resources, what's so bad about financial engineering if it is done well (and no fraud is involved)?
    Jan 20 06:16 PM | Likes Like |Link to Comment
  • The Achilles' Heel Of Apple Is Its Recalcitrant High-Margin Policy [View article]
    Apple should better try to keep its margins very high and provide top notch products.

    Going for lower margins will put Apple in a position to compete a lot more intensely with Samsung and the others. That scenario would not be the beginning of the end of Apple.
    Jan 7 09:22 AM | 1 Like Like |Link to Comment
  • Apple Can Unlock 68% More Value By Emulating Google In This Way [View article]
    > Motorola = junk

    Are you sure? Motorola has returned 600% to investors in the last 5 years, hugely outperforming S&P 500, and is now trading at an all time high.

    Hardly junkā€¦
    Jan 3 05:00 PM | Likes Like |Link to Comment
  • Insiders Are Selling Apple [View article]
    Let's not get TOO silly, though.

    If you bought Apple three years ago you would be 73% up by now. Which is not bad. And incidentally that's a better return than in GOOG for the same period...

    Think about it.

    It amazes me how superficially short term people think.
    Nov 9 06:33 AM | 8 Likes Like |Link to Comment
  • Insiders Are Selling Apple [View article]
    Markus,

    Don't short Apple. I don't have a crystal ball, of course. But I can tell you that based on insider selling you can't make any conclusive judgments about the stock price movement.

    AAPL is relatively cheap, it has a huge cash pile and buy back programme, and seems to be doing reasonably well. So why should the stock price go sharply down?

    Better save your money for some more common sensed investment than gambling with an short position in Apple.
    Nov 9 06:27 AM | 1 Like Like |Link to Comment
  • Apple: Why More Buybacks Makes Sense [View article]
    Yeah... The thing is, Jobs went public with Apple and it is now owned by its shareholdrs. It makes absolutely no sense to invest in something that gives nothing back... Sad but true!

    Now investors may buy the growth story but only up to a point. Once a company becomes the most profitable one and still gives nothing... what are investors to think about it?

    If Jobs (or his heirs) were to buy it out then I would agree he could do whatever he wants with the cash pile. Possibly have the compnay generate losses for a decade and just squander any amount of cash it has.

    But sorry, Apple is onwed by its shareholders and it will have to give back cash. And its managment will have to be under pressure to innovate and execute with a REASONABLE amount of cash and make more profits...
    Aug 23 08:32 AM | 1 Like Like |Link to Comment
  • Apple: Why More Buybacks Makes Sense [View article]
    Keep the number of shares constant?

    Why 900 million shares? Why not take the count as of December 1980 (accounting for splits)?
    Aug 23 08:23 AM | Likes Like |Link to Comment
  • Carl Icahn Spells The End Of An Era At Apple [View article]
    "Then there are those that are committed to it as a profit vehicle. Those would welcome any action to enhance share value."

    I think those are the better part of 99.9% of the shareholders...

    Why do you think Apple charges extortionate price for its products? Not because it likes profits? It just needs USD 3-4 billion for innovation yearly. Maybe a cash pile of USD 20 billions would be good to secure 6 years of innovation. But why 150 billions? To secure the next 40 years?

    Maybe you don't like the current buy back programme. Maybe you reckon Apple should have gotten 200 billions of cash reserves? Or maybe over the next 30 years Apple should have sucked up a couple of trillions of the money in circulation. Just to keep it in a bank... And you think that would have created value?

    You gotta be kidding me!
    Aug 15 05:16 PM | Likes Like |Link to Comment
  • Carl Icahn Spells The End Of An Era At Apple [View article]
    "But I don't think Carl Icahn wants to destroy the company. He just wants to wring out greater value from its cash which he believes would cause a P/E expansion."

    Of course he doesn't want to destroy Apple. Steve Jobs was very bad at finance and what he did in that department is not to be continued just because in the innovation area he was a genius.

    Don't think Icahn believes in multiple expansion. When a company buys back its shares the EPS goes up without any multiple expansion.
    Aug 15 05:11 PM | Likes Like |Link to Comment
  • Carl Icahn Spells The End Of An Era At Apple [View article]
    "If the position is $1 billion, as widely reported, then the actual money isn't enough to move the needle, but the Icahn presence has lots of cache.

    It's hard to discount the impact the announcement of his position had on stock price when you look at the precise moment of its release and the start of the Apple price surge. To suggest that it was coincidence is hard to agree with."

    One billion is nothing for a company like Apple. The daily trade volume in AAPL shares is 7 billion... I am not saying it's a coincidence, it was a catalyst that sped up something that was already happening.

    "I'm also not certain that Jobs was "a plain moron" in any regard, including capital allocation."

    Yes, maybe not a real moron. Just somebody who doesn't understand finance and was having a strong emotional trauma from past financial experience.

    Do you ever ask yourself why is Apple in this unique position with all that money on the balance sheet? Why not IBM? Why has IBM bought itself many times over in the last 70 years, giving money back to shareholders and constantly pushing the share price up without suffering from a financial collapse?
    Aug 15 05:05 PM | Likes Like |Link to Comment
  • Carl Icahn Spells The End Of An Era At Apple [View article]
    I don't think that the actual money played that much role in the upswing. Apple was probably about to pop anyway and Icahn just pulled teh trigger.

    Musing about past glory and Steve Jobs is useless. I admire Job's genius in bringing innovation and intimate understanding of what would delight consumers to the point of making them pay an extortionate price for Apple's products.

    But let's face it, Jobs was a plain moron where capital allocation was concerned. So a little common sense with the ugly cash pile is a positive thing.
    Aug 14 04:11 AM | 4 Likes Like |Link to Comment
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